But now, as we enter the second round of MMM, the guys in Panic! face another tough challenge, this time in the form of #13 Florence and the Machine, who handled Brandon Flowers with relative ease in their first-round matchup.

So while Panic! still like their chances of advancing to the Sweet 16, they're not about to overlook Florence (or her Machine). The way they see it, they're in for the fight of their lives against an upset-minded underdog.

"[They're an] awesome band, so we're not going to be able to do the trash-talking thing ... they've got some strong stuff going for them," drummer Spencer Smith added. "Florence has a lot of success recently, and it's sort of the new thing. It's a tough matchup."

But even though they won't admit it, thanks to the undying support of their fans, Panic! are definitely the favorites in their second-round matchup — and are quickly emerging as a dark-horse contender to dethrone Coheed and Cambria as MMM champs. After all, confidence is one thing; being able to back it up is something else entirely. And so far, Panic! at the Disco have certainly backed it up.

"We'll see what happens. I'm kind of surprised we moved on to the second round," Urie laughed. "I think it's definitely a possibility [we could win the tournament]. We worked so hard ... and I think if we pace ourselves, we can come out in front."

MTV's Musical March Madness has moved on to the second round! Voting is now open and will continue until Sunday, when we'll begin the Sweet 16. All winners are determined by your votes, so if your favorite act is still in the tournament, it's up to you to guide them to glory. You can rally the troops on Twitter using the hashtag #MMM — but get ready, things only get tougher from here on out!